• Silver prices in Pakistan are influenced by global market trends.
• Silver is used in jewellery, ornaments, and artefacts.
• The prices fluctuated due to changes in the rupee’s value against the US dollar.

Silver, a precious metal represented by the symbol Ag and atomic number 47, plays a significant role in Pakistani culture, commonly used in jewellery, ornaments, and various artefacts. It is also regarded as a safe haven asset, providing protection against economic uncertainties.

The demand for silver is further bolstered by its essential applications in the industrial sector, particularly in electronics, solar panels, and medical equipment.

In Pakistan, silver prices are affected by global market trends, exchange rates, government policies, and the dynamics of domestic supply and demand. Additionally, factors like speculation and seasonal demand contribute to price volatility.

As of September 23, 2024, the price of silver was reported at Rs 2,786 for 10 grams and Rs 3,246 for one tola. The London Bullion Market Association noted that silver prices have fluctuated in response to changes in the rupee’s value against the US dollar.

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